The table below shows labour force information for a hypothetical economy, Selkirk. Answer the following questions, writing out millions of workers to two decimal places e.g. 1.00 million and percentages to one decimal place e.g. 1.0%. 2019 2020 Total population 15 years and over Those 15 years and over not in the labour force population Part-time workers who wish to have full-time jobs Part-tine workers who do not wish to have full-time jobs Discouraged workers Workers with full-time jobs Unemployed menbers of the labour force 4.40 million 1.50 million 4.40 million 1.se million 110, e0e 330,000 440, 000 1.30 million 15e, 000 135,000 485, e0e 540,000 1.40 million 160, 000 a. The Selkirk's labour force population in 2019 is 2.90 million while the labour force is million. The participation rate in 2019 is [ and the official unemployment rate is [ The Selkirk's labour force population in 2020 is[ ]million while the labour force is million, The participation rate in 2020 i [ ]% and the official unemployment rate is b. Between 2019 and 2020 the Selkirk's official unemployment rate has decreased members of the labour force has increased while the number of unemployed c. If the unemployment rate included underemployed and discouraged workers, the Selkirk's unemployment rate would be % in 2019 and 7% in 2020.
The table below shows labour force information for a hypothetical economy, Selkirk. Answer the following questions, writing out millions of workers to two decimal places e.g. 1.00 million and percentages to one decimal place e.g. 1.0%. 2019 2020 Total population 15 years and over Those 15 years and over not in the labour force population Part-time workers who wish to have full-time jobs Part-tine workers who do not wish to have full-time jobs Discouraged workers Workers with full-time jobs Unemployed menbers of the labour force 4.40 million 1.50 million 4.40 million 1.se million 110, e0e 330,000 440, 000 1.30 million 15e, 000 135,000 485, e0e 540,000 1.40 million 160, 000 a. The Selkirk's labour force population in 2019 is 2.90 million while the labour force is million. The participation rate in 2019 is [ and the official unemployment rate is [ The Selkirk's labour force population in 2020 is[ ]million while the labour force is million, The participation rate in 2020 i [ ]% and the official unemployment rate is b. Between 2019 and 2020 the Selkirk's official unemployment rate has decreased members of the labour force has increased while the number of unemployed c. If the unemployment rate included underemployed and discouraged workers, the Selkirk's unemployment rate would be % in 2019 and 7% in 2020.
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:The table below shows labour force information for a hypothetical economy, Selkirk. Answer the following questions, writing out
millions of workers to two decimal places e.g. 1.00 million and percentages to one decimal place e.g. 1.0%.
2019
2020
Total population 15 years and over
Those 15 years and over not in the labour force population
Part-time workers who wish to have full-time jobs
Part-time workers who do not wish to have full-time jobs
Discouraged workers
Workers with full-time jobs
Unemployed members of the labour force
4.40 million
4.40 million
1.50 million
1.50 million
110,000
330,000
440,000
1.30 million
150, 000
135,000
405,000
540, 000
1.40 million
160, 000
a. The Selkirk's labour force population in 2019 is|
2.90 million while the labour force is
million.
The participation rate in 2019 is [
% and the official unemployment rate is
%.
The Selkirk's labour force population in 2020 is [
million while the labour force is
million.
The participation rate in 2020 is
1% and the official unemployment rate is
1%.
b. Between 2019 and 2020 the Selkirk's official unemployment rate has decreased
members of the labour force has increased
while the number of unemployed
c. If the unemployment rate included underemployed and discouraged workers, the Selkirk's unemployment rate would be
% in 2019 and
% in 2020.
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